Tomorrow, at an event hosted by Deutsche Bank, Big Society Capital will be launching the first stage of the Evidencing Social Value project that we have been co-ordinating with the collaboration of prominent social investors and expert groups who have been working in this area for some time.
The social investors: Big Society Capital, Big Issue Invest, Bridges Ventures, CAF Venturesome, Esmee Fairbairn, Nesta, Social Investment Business, Triodos Bank and Deutsche Bank, working together with four expert groups: Investing for Good, New Philanthropy Capital, SROI and New Economics Foundation, through their advisory work with Esmee Fairbairn.
The ambition is that these materials will be built on with the social sector to produce tools that can facilitate the flow of investment capital on the basis of generating real social value. The aim of the tools is to help investors develop social investment strategies and processes, to showcase the achievement of frontline organisations, to support finance raising activities and to help social sector organisations compete in outcomes based procurement processes.
The framework comprises:
- A best practice guide for social investors that integrates social value into a robust investment process; from creating an impact strategy through to screening, due diligence and monitoring and reporting;
- An outcomes matrix that standardises definitions for key outcome areas, themes and beneficiary groups;
- An overview of each of the 13 outcome areas with suggested indicators and background research; and
Guidance for social sector organisations on what social investors expect to see in an impact plan.
Caroline Mason, Chief Operating Officer Big Society Capital said: “There has been a real need to establish a common approach to evidencing social value and this project demonstrates that, by working together, the sector can make real progress in becoming market leaders in the integration of social value into investment decision making processes.” More details of the project can be found at www.bigsocietycapital.com.